In the past cloud computing was actually done in the 1950′s in schools and corporations. With one mainframe or as it was called a “server room” users could use terminals that were attached to the mainframe itself and could access information from it.
A server room in the 1950′s
These days we’ve managed to do all of our information data storage online from our personal computers with apps like Dropbox or iCloud.
Now in the near future for gaming for example on the PS4 a fair while after it’s release. A person will be able to just sign online their console, pick what game they want (possibly without a disk), and just play their game. No need to worry about updates or anything as long as their connection is good.
I honestly hope the same thing will happen for the Xbox One but we’ll see what happens and what plans and ideas Microsoft will throw at our face in the unforeseeable future.